Alleged Fraud: Rs 10 Million Traced to Former Manager Hemraz Leckraj's Account
The former manager of a fund management and taxation firm, Hemraz Leckraj, 44, was provisionally charged with fraud in the Weekend Court on Saturday, April 25, after being arrested on Friday by the Financial Crimes Commission (FCC) as part of an investigation into an alleged misappropriation of around Rs 20 million. The FCC opposed his release, and the suspect, who lives in Solférino, was taken back to the police station in Roche-Bois while the investigation continues.
According to investigators from Réduit Triangle, a money trail has traced about Rs 10 million that passed through Hemraz Leckraj's personal bank account between March 2022 and March 2023. These transactions are considered particularly incriminating by the FCC. The investigation is now focused on establishing the exact modus operandi used to divert the funds, with other developments not ruled out in this case.
The inquiry was initiated after clients of the fund management company reported suspicious money movements in their accounts. The company subsequently filed a complaint with the FCC. According to investigators' suspicions, Hemraz Leckraj, then a manager at the firm, allegedly transferred funds to the bank accounts of companies whose leaders he knew, before recovering the money later on. The accounts of the concerned companies were managed by the firm.
Assisted by lawyer Yash Bhadain, the middle-aged man was extensively questioned on Friday following his arrest. In response to the accusations, he claimed that this matter had already been investigated by the Anti-Money Laundering Unit (AMLU) between 2022 and 2023 and that he had already provided explanations to the police.
Hemraz Leckraj also shifted the blame onto other players in the sector, asserting that he had not acted illegally. These explanations have not convinced the FCC at this stage of the investigations.
The suspect is expected to be questioned again early next week, following his scheduled appearance before the Port-Louis court on Monday, April 27.
